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Multilateral Trading Facilities to lure new companies on Romania's bourses, official says

Establishing some Multilateral Trading Facilities (MTF) by the local bourses could sustain the Romanian capital market by prompting more listed companies, said Septimiu Stoica, the head of the Corporate Governance Institute.

Both the Bucharest Stock Exchange (BSE) and the bourse in Sibiu plan to found MTF to offer investment opportunities for local brokers and investors.

In Europe, introducing MTF had healthy effects in supporting the capital markets, said Stoica, adding these trading facilities could be established in Romania following the model of the stock exchange in Warsaw.

MTF's target is to compete with the traditional stock exchanges by offering lower tariffs, by attracting new companies for trading and creating a multinational trading platform which would reunite the most important companies countrywide, Stoica explained.

Multilateral Trading Facilities are alternative systems of trading which allow a market similar to the existent ones where activate investors or large investment companies that want to trade financial instruments at lower costs. These MTF began competing with traditional bourses, in Europe already being active some systems like Project Turquoise, Chi-X or Bats Europe.

BSE would need a new tug after it dipped more than the other European bourses in 2008 because of the high number of foreign investors who stopped spending money here, unlike the Polish stock exchange which counts more than 1 million local investors, Stoica also said.

The global financial crisis cast out many foreign investors from BSE last year and prompted a historical collapse of indexes of up to 84 percent, as the large economies face the worst recession of the past 80 years.

The main index BET showing the evolution of the ten best companies on BSE plunged 70.47 percent, while the BET-FI index of the five financial companies known as SIF fell 84.05 percent.

 

Sursa: http://www.newsin.ro

Tags: trading companies investors facilities bourses multilateral sif bet

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